Security Deposit Deed

Bank Facility to Depositor

No. of Prokens Required: 2 |

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Description:

The Deposit is given by the Depositor to a Lender as security for a loan / facility provided by the Lender:

In consideration of the provision by the Lender to the Depositor of banking accommodation facilities and services under which the Lender agreed to make available to the Depositor.

Unless and until all Liabilities have been fully ascertained and fully repaid and discharged and the Lender shall have no further actual or contingent liability under the Facility Agreement, the Deposit shall not be repayable (in whole or in part) by the Lender to the Depositor or any other person.

Unless and until all Liabilities have been fully ascertained and fully repaid and discharged and the Lender shall have no further actual or contingent liability under the Facility Agreement, the Depositor shall not be entitled to withdraw the Deposit or any part thereof save for any interest to be paid, without the prior written consent of the Lender.

Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Banking and Finance > Security Documents & Equitable Mortgage

 
Keywords:

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